First Quantum Boosts Taca Taca Project with IFC Support

SEATTLE (Scrap Monster): First Quantum Minerals has partnered with the International Finance Corporation to align its Taca Taca copper project in Argentina with global sustainability benchmarks, enhancing its prospects for debt financing and responsible development.

Located in Salta Province, the project will adopt IFC Performance Standards on Environmental and Social Sustainability, strengthening investor confidence while promoting long-term benefits for local communities and the national economy. The agreement comes as Argentina seeks to attract capital into its mining sector.

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Company shares rose over 5% to C$37.81 in Toronto, supported by the partnership and recent approval in Panama to process and export stockpiled ore from the Cobre Panama mine. First Quantum currently holds a market capitalization of approximately C$31.5 billion.

CEO Tristan Pascall described Taca Taca as one of the world’s top undeveloped copper assets. The project is expected to require an initial $4.2 billion investment, with expansion costs reaching $5.25 billion. Annual copper production is projected at 291,000 tonnes over a 35-year mine life.

The development is also expected to generate thousands of jobs and support Argentina’s growing critical minerals sector.